Chevy Chase Trust Holdings LLC Reduces Stock Position in Broadcom Inc. $AVGO

Key Points

• Chevy Chase Trust Holdings LLC trimmed its Broadcom stake by 1.7% in Q3, selling 47,023 shares and ending with 2,729,928 shares (≈$900.6M), making AVGO its sixth‑largest holding (~2.5% of the fund).
• Broadcom beat quarterly EPS expectations ($2.05 vs. $2.03) with revenue up 29.5% year‑over‑year, declared a $0.65 quarterly dividend ($2.60 annualized), and carries a market cap around $1.53T with a high P/E (~63).
• Market sentiment is broadly positive—analyst price‑target upgrades, a new $10B buyback and AI product wins (shipping a 102.4 Tbps switch and management targeting >$100B AI chip opportunity by 2027) underpin upside, though competition, execution risk and elevated valuation are key near‑term risks.

Chevy Chase Trust Holdings LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,729,928 shares of the semiconductor manufacturer's stock after selling 47,023 shares during the quarter. Broadcom comprises about 2.5% of Chevy Chase Trust Holdings LLC's holdings, making the stock its 6th biggest holding. Chevy Chase Trust Holdings LLC owned 0.06% of Broadcom worth $900,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. State Street Corp increased its position in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock valued at $51,071,601,000 after acquiring an additional 873,963 shares in the last quarter. Geode Capital Management LLC raised its holdings in Broadcom by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock worth $29,827,649,000 after acquiring an additional 2,226,585 shares during the last quarter. Norges Bank purchased a new position in Broadcom in the 2nd quarter worth approximately $18,579,549,000. Finally, Invesco Ltd. lifted its position in Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO opened at $322.16 on Monday. The business's fifty day moving average price is $332.73 and its 200-day moving average price is $344.98. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 62.92, a PEG ratio of 0.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom's payout ratio is currently 50.78%.

Analyst Ratings Changes

Several analysts have commented on AVGO shares. Citigroup increased their target price on Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadcom in a report on Monday, December 29th. Barclays reaffirmed an "overweight" rating and set a $500.00 price objective (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Bank of America reduced their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Finally, Piper Sandler reissued an "overweight" rating and issued a $430.00 target price (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $435.30.

Insider Activity

In other news, CEO Hock E. Tan sold 70,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the transaction, the chief executive officer owned 132,836 shares in the company, valued at $46,133,942.80. This represents a 34.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $325.13 per share, for a total transaction of $325,130.00. Following the acquisition, the director owned 36,602 shares of the company's stock, valued at $11,900,408.26. The trade was a 2.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 457,985 shares of company stock worth $155,218,645. Company insiders own 1.90% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom says it is now shipping the world’s first 102.4 Tbps switch in production volume, reinforcing its leadership in high‑performance networking for AI datacenters and supporting long‑term revenue potential from AI infrastructure. Broadcom Now Shipping World’s First 102.4 Tbps Switch in Production Volume
• Positive Sentiment: Wall Street remains constructive: Morgan Stanley raised its price target (keeps Overweight) and MarketBeat notes fresh analyst upside estimates after a strong quarter — supportive for medium‑term upside. Morgan Stanley Raises PT on Broadcom, Keeps Overweight Rating
• Positive Sentiment: Broadcom projects very large AI opportunity (>$100B target for AI chip revenue in 2027) and multiple bullish writeups argue AI momentum will drive strong cash flow and share gains versus peers. These projections fuel the bullish fundamental case. Broadcom (AVGO) Rises on AI Chip Sales Forecasts for 2027
• Positive Sentiment: Company is actively repurchasing stock (recent big quarterly buyback and a new $10B authorization), signaling management confidence and providing demand support for the share price. Berkshire, Broadcom & Nucor Are Reving Their Buyback Engines
• Neutral Sentiment: Broadcom showcased an end‑to‑end AI infrastructure portfolio at OFC 2026 (XPUs, optics, PCIe, etc.), a marketing/technical win that supports product breadth but has unclear short‑term revenue impact. Broadcom Showcases Industry-Leading Solutions for Scaling AI Infrastructure at OFC 2026
• Neutral Sentiment: Reported short‑interest data in filings appears anomalous/unstable (zero‑share entries), so it is not a reliable explanation for intraday moves. Market data / short interest
• Negative Sentiment: Critical analysis warns there’s a “catch” to the $100B AI vision — competition (Nvidia), execution risk, timing and margin assumptions could make that target hard to realize quickly; such skepticism can prompt selling by investors expecting immediate payoff. There's A Catch To Broadcom's $100B AI Vision
• Negative Sentiment: Macro/market factors (recent tech rotation, geopolitical and commodity‑driven volatility) and valuation concerns (high P/E versus peers after the run‑up) are increasing near‑term downside pressure as investors trim positions. Broadcom’s AI Momentum Could Be Far From Over

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.